Just over six months after it was resurrected by German investors, online technology magazine The Kernel could be set to disappear once again after being swallowed up by a US rival.
The London-based site’s controversial founder Milo Yiannopoulos is selling The Kernel to Texas-based start-up The Daily Dot for an undisclosed sum, while also departing.
The Kernel was launched in November 2011 by former Telegraph technology writer Yiannopoulos with the intention of "fix[ing] European technology journalism", but was shut down after the company was unable to pay wages.
It re-launched in August, backed by German investors, after Yiannopoulos personally settled debts of £24,000. Since its re-launch the publication has had its stories picked up by the likes of BBC News and the Mail on Sunday, notably an investigation into the sales of rape and monster pornography ebooks on Amazon.
But the site had no revenue and Yiannopoulos approached The Daily Dot after exploring the options of raising money from German and Swiss media houses.
As part of the deal The Kernel’s small team of full-time writers will join The Daily Dot and The Kernel brand will likely disappear.
A spokesperson for The Daily Dot said details of how the publications will be merged “yet to be determined” but added: “The acquisition marks a pivotal step in further developing an international audience, firmly establishing The Daily Dot’s presence in the UK.”
The Daily Dot, based in Austin, Texas, was launched in 2011 to cover the culture of the internet and has a 25 strong editorial team. The merger with The Kernel is the site's first foray overseas.
Yiannopoulos said of the sale: “I have a dangerously short attention span. That’s not to say I was bored of The Kernel - far from it - but I only really enjoy launching and leading things.”
- More about:
- Austin, Texas
- Mergers And Acquisitions
- Newspapers And Magazines